TORONTO, Sept. 8, 2015 /CNW/ - Callidus Capital
Corporation (the "Company" or "Callidus") is pleased to announce
that, in accordance with its previously announced dividend policy,
the board of directors (the "Board") has declared a
quarterly eligible dividend of $0.175 per common share ("Common Share") of the
Company to be paid on October 20,
2015 to holders of Common Shares of record on September 30, 2015.
As previously announced, the Board has approved the
implementation of a dividend reinvestment plan pursuant to which
eligible shareholders may elect to automatically reinvest their
cash dividends payable in respect of the Common Shares to acquire
additional Common Shares. Precise terms of the dividend
reinvestment plan will be announced once the plan is finalized.
For purposes of the enhanced dividend tax credit rules contained
in the Income Tax Act (Canada) and
any corresponding provincial and territorial tax legislation, all
dividends paid by Callidus on our common shares in the calendar
year, are designated as "eligible dividends". Unless stated
otherwise, all dividends paid by Callidus on our common shares will
be designated as "eligible dividends" for the purposes of these
rules.
About Callidus Capital Corporation
Established in
2003, Callidus Capital Corporation is a Canadian company that
specializes in innovative and creative financing solutions for
companies that are unable to obtain adequate financing from
conventional lending institutions. Unlike conventional lending
institutions who demand a long list of covenants and make credit
decisions based on cash flow and projections, Callidus credit
facilities have few, if any, covenants and are based on the value
of the company's assets, its enterprise value and borrowing needs.
Callidus employs a proprietary system of monitoring collateral and
exercising control over the cash inflow and outflows of each
borrower, enabling Callidus to very effectively manage any risk of
loss.
SOURCE Callidus Capital Corporation